| Notes to the Consolidated Statements of Cash Flows |
Note 24. Notes to the Consolidated Statements of Cash Flows
Operating activities
| Schedule of Operating activities |
|
|
|
|
|
|
|
|
| |
|
For the
year ended
December 31, |
|
| (SEK in thousands) |
|
2025 |
|
|
2024 |
|
| Adjustments for non-cash items |
|
|
|
|
|
|
|
|
| Depreciation |
|
|
130,802 |
|
|
|
129,022 |
|
| Depreciation of right-of-use assets |
|
|
96,694 |
|
|
|
96,940 |
|
| Amortization |
|
|
312 |
|
|
|
1,056 |
|
| Loss from disposal of property, plant, and equipment |
|
|
5,321 |
|
|
|
- |
|
| Capital gains from the sale of non-current assets |
|
|
- |
|
|
|
(8,985 |
) |
| Share-based payment expense |
|
|
15,629 |
|
|
|
10,171 |
|
| Unrealized exchange differences |
|
|
77,903 |
|
|
|
(1,926 |
) |
| Finance income |
|
|
(5,080 |
) |
|
|
(65,615 |
) |
| Finance costs |
|
|
588,646 |
|
|
|
224,345 |
|
| Provision |
|
|
12,332 |
|
|
|
- |
|
| Fair value loss/(gain) on financial assets or liabilities measured at fair value through profit or loss |
|
|
129,262 |
|
|
|
(51,832 |
) |
| Share of results of joint venture |
|
|
(1,430 |
) |
|
|
(282 |
) |
| Total non-cash adjustments |
|
|
1,050,391 |
|
|
|
332,894 |
|
| |
|
|
|
|
|
|
|
|
| |
|
For the
year ended
December 31, |
|
| (SEK in thousands) |
|
2025 |
|
|
2024 |
|
| Net changes in working capital |
|
|
|
|
|
|
|
|
| (Increase)/decrease in trade receivables |
|
|
10,571 |
|
|
|
23,153 |
|
| (Increase)/decrease in prepaid expenses |
|
|
3,899 |
|
|
|
(5,152 |
) |
| (Increase)/decrease in accrued income |
|
|
(1,789 |
) |
|
|
(7,964 |
) |
| (Increase)/decrease in other receivables |
|
|
(22,174 |
) |
|
|
173,091 |
|
| Increase/(decrease) in trade and other payables |
|
|
(52,186 |
) |
|
|
96,414 |
|
| Increase/(decrease) in accrued expense |
|
|
69,950 |
|
|
|
(15,219 |
) |
| Increase/(decrease) in deferred income |
|
|
3,193 |
|
|
|
9,395 |
|
| Increase/(decrease) in other liabilities |
|
|
30,577 |
|
|
|
11,831 |
|
| Net changes in working capital |
|
|
42,041 |
|
|
|
285,549 |
|
Changes in liabilities arising from financing activities
The table below details changes in the group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s Consolidated Statements of Cash Flows as cash flows from financing activities.
| Schedule of cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Non-cash changes |
|
|
|
|
|
|
|
| (SEK in thousands) |
|
January 1,
2025 |
|
|
Financing
cash flow |
|
|
Fair value
adjustments |
|
|
New lease
agreements |
|
|
Other
changes |
|
|
December 31,
2025 |
|
| Note |
|
|
|
|
(i) |
|
|
25 |
|
|
(iii) |
|
|
(ii) |
|
|
|
|
| Loans and borrowings (current and non-current) |
|
|
- |
|
|
|
16,743 |
|
|
|
- |
|
|
|
- |
|
|
|
(503 |
) |
|
|
16,240 |
|
| Convertible debenture |
|
|
379,795 |
|
|
|
246,912 |
|
|
|
- |
|
|
|
- |
|
|
|
(418,991 |
) |
|
|
207,716 |
|
| Lease liabilities (current and non-current) |
|
|
641,507 |
|
|
|
(137,218 |
) |
|
|
- |
|
|
|
155,324 |
|
|
|
(17,060 |
) |
|
|
642,553 |
|
| Liabilities associated with cash advances |
|
|
166,216 |
|
|
|
205,236 |
|
|
|
- |
|
|
|
- |
|
|
|
(16,610 |
) |
|
|
354,842 |
|
| Other financial liabilities (embedded derivative - convertible debentures) |
|
|
- |
|
|
|
- |
|
|
|
4,603 |
|
|
|
- |
|
|
|
- |
|
|
|
4,603 |
|
| Other financial liabilities (derivative instruments - warrants) |
|
|
1,432 |
|
|
|
- |
|
|
|
124,659 |
|
|
|
- |
|
|
|
2,289 |
|
|
|
128,381 |
|
| Total liabilities from financing activities |
|
|
1,188,950 |
|
|
|
331,673 |
|
|
|
129,262 |
|
|
|
155,324 |
|
|
|
(450,874 |
) |
|
|
1,354,335 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Non-cash changes |
|
|
|
|
|
|
|
| (SEK in thousands) |
|
January 1,
2024 |
|
|
Financing
cash flow |
|
|
Fair value
adjustments |
|
|
New lease
agreements |
|
|
Other
changes |
|
|
December 31,
2024 |
|
| Note |
|
|
|
|
(i) |
|
|
25 |
|
|
|
|
|
(ii) |
|
|
|
|
| Loans and borrowings (current and non-current) |
|
|
257,424 |
|
|
|
(309,456 |
) |
|
|
55,926 |
|
|
|
- |
|
|
|
(3,894 |
) |
|
|
- |
|
| Convertible debenture |
|
|
- |
|
|
|
319,887 |
|
|
|
- |
|
|
|
- |
|
|
|
59,908 |
|
|
|
379,795 |
|
| Lease liabilities (current and non-current) |
|
|
539,080 |
|
|
|
(121,975 |
) |
|
|
- |
|
|
|
84,768 |
|
|
|
139,634 |
|
|
|
641,507 |
|
| Liabilities associated with cash advances |
|
|
- |
|
|
|
211,147 |
|
|
|
- |
|
|
|
- |
|
|
|
(44,931 |
) |
|
|
166,216 |
|
| Other financial liabilities (derivatives) |
|
|
48,814 |
|
|
|
(3,787 |
) |
|
|
(89,911 |
) |
|
|
- |
|
|
|
46,316 |
|
|
|
1,432 |
|
| Total liabilities from financing activities |
|
|
845,318 |
|
|
|
95,816 |
|
|
|
(33,985 |
) |
|
|
84,768 |
|
|
|
197,033 |
|
|
|
1,188,950 |
|
| (i) |
Cash flows from Loans and borrowings (current and non-current), Convertible debenture, Lease liabilities (current and non-current) and Other financial liabilities (derivatives) represent the net amount of cash from borrowing and repayment of borrowings in the Consolidated Statements of Cash Flows. |
| (ii) |
Other changes include changes in exchange rates, accrued interest, remeasurements of the lease liabilities, and reduction in factoring liabilities. |
| (iii) |
In 2025, the Group entered into new lease agreements as part of its operations, with the largest lease relating to a charging station with an acquisition value of SEK 26,828 thousand. |
|